Saudi Arabia’s Public Investment Fund has created a new venture, the NEOSpace Group (NSG). The business says it aims to develop and enhance commercial activities related to the sector within Saudi Arabia by providing innovative solutions for satellite and space services both locally and internationally. The new business unit is part of Saudi Arabia’s move […]
The Saudi Cup 2024 – the world’s most valuable horse race – will be shown live by over 30 broadcasters with a reach that targets all corners of the globe for the $20 million contest. Now entering its fifth year, the Group 1 Saudi Cup is established as one of horse racing’s premium international events. […]
SEPI, Spain’s industrial public entity, is planning to acquire a 5 per cent stake in Telefónica. The move is aimed at strengthening the presence of the State in a “strategic company” such as Telefónica at a time when Saudi’s STC is taking an important stake in the operator, subject to the Government’s approval. According to […]
A division of Saudi Aramco, Wa’ed Ventures, has taken an investment in a Luxembourg-based hi-tech start-up. Luxembourg-based 5G Internet of Things (IoT) satellite operator OQ Technology has sought a €13 million series A funding round, along with Phaistos Investment Fund, managed by 5G Ventures from Greece. OQ Technology will use the funds to grow its […]
Nilesat has followed Arabsat in taking down broadcasts from the Lebanon-based Al-Manar TV news channel, which is funded by the controversial Hamas organisation. Transmissions of Al-Manar will cease on June 15th. Justifying the decision, Nilesat’s board of directors claim that Al-Manar TV violated the agreement signed between both parties and broadcast programmes which provoke sectarian […]
Saudi Arabia may be entering the bidding for Germany’s Bundesliga rights in the Middle East, in the latest move to make new investments in international sport and confound rival Gulf state backed media. Germany’s top division is currently in exclusive talks with beIN Sports to renew the Qatar-based network’s $250 million five-year deal, which runs […]
The World Trade Organisation (WTO) has declared that Saudi Arabia-supported sports and programming pirate beoutQ is in breach of international law, in a ruling that will be published formally mid-June. The WTO has also reportedly ruled, according to The Guardian, that Saudi Arabia’s government is behind beoutQ. The pirate service was started because of a […]